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  1. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    just an update. most of the offers I submitted were not countered but 2 of them responded. My offers of 10k cash are usually greeted with disgust, but there are some serious problems that some sellers need to rid of. I put in 6 more offers yesterday on other properties. To answer someone...
  2. randallg99

    A Question For the Web Faithful

    WEB/DIGITAL 
    Hi, I should have been more specific. We are seeking ways to drive more traffic to one of my sites which sells a wide variety of home furnishings items. Our prices are pretty good and we've had minimal success with sales, but I've positioned the operation to increase revenue ten fold. just...
  3. randallg99

    A Question For the Web Faithful

    WEB/DIGITAL 
    I have a question and hopefully can get some help. I did a search on this site for bizrate and other keywords and did not see this discussed. what are your experiences with companies like Bizrate.com aka shopzilla? good? bad? worth the investment? alternatives? Thanks in advance for your help.
  4. randallg99

    im doing it.............Obama

    sales personnel can be 1099'd so you don't have to be responsible for workman's comp, liability or even health insurance.
  5. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    I think the price declines are very regional. There are parts of NJ that are stubbornly resiliant to the downturn while other areas are highly affected. The areas where I think there is the most opportunity is in low end housing. It's not as ritzy as investing in higher quality properties, but...
  6. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    my offers are based on yr1990-95 metrics regardless of listing prices. I am putting in 4 offers at 4pm today.
  7. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    which is exactly why you need to buy your properties based upon year 1990-1995 valuations. There are many deals to be had right now.
  8. randallg99

    How do you all keep your books?

    1. save all receipts. If necessary, scan them into a hard drive and use a flash drive back up. You cannot have accounting software without a physical back up plan. That is probably the most idiotic thing you can possibly do. 2. quickbooks is very versatile. I've used a couple of different...
  9. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    yesterday I spent a lot of time with "turnaround specialists" and if there's an opportunity in today's market, this is it: Hold hands with small business owners and navigate them through difficult times of diminishing profits (or increasing losses)... Anyone with a heartbeat and drive...
  10. randallg99

    Profiting from the coming healthcare changes?

    has anyone been to or seen a "Minute Clinic?" These are mini-nurse's stations situated in the pharmacy chain CVS. My family has used them a couple of times (from flu shots to a bump on the head from a fall to a possible ear infection) the convenience and expertise was unbelievable. IMO...
  11. randallg99

    Shared Portfolio

    HOT! INVESTING 
    sorry about late response. was in discussions all day and spent very little time at the computer. the dividend announcement shocked me. The mortgage back securities are in a real sweet spot because the yield curve is very favorable but there's always a monkey wrench thrown in. that said...
  12. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    We're probably just getting down to the semantics, but the loan really cannot be called just because the value of the property went down; However, the bank/lender has the option to renew or NOT renew the loan at the end of any term. A commercial loan is broken into terms (usually 5 years, but...
  13. randallg99

    Foreclosure and Tenants?

    REAL ESTATE 
    Fair market value plays a large role in upholding the validity of any contract regardless of sale or lease and I agree Judges will throw out the agreement if it contained unrealistic terms. Les Gee, you said the ex-owner is living in the property you are purchasing and the lease is for $250...
  14. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    me: hey how does the bank do this? the owner is not in default but wachovia is calling the loan? Friend: wachovia obviously had the center appraised and it is probably underwater. According to the regs they can not renew the loan. The owner does not have the $$ nor the will to pay down the...
  15. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    I emailed 2 friends- 1 large commercial RE owner and another VP of large bank... I'll get back to you with answers.
  16. randallg99

    Foreclosure and Tenants?

    REAL ESTATE 
    Re: Owning vs Renting (not real estate) I am not 100% sure, but I have a feeling that this act refers to the tenants who are "month to month" or have an unusually long lease that was probably written in design to control the property for a prolonged period of time (2 years or more, or...
  17. randallg99

    Donald Trump Goes on an Adventure in Panama

    I am looking forward to it being completed. I am positive there's overbuilding in Panama, but it's worth noting that it's on a much smaller scale verus Miami or LV. Many of the newly built condo buildings are 10 to 20 stories high with about 2 or 3 condos per floor. These unit sizes pale in...
  18. randallg99

    Foreclosure and Tenants?

    REAL ESTATE 
    Re: Owning vs Renting (not real estate) foreclosures occur on owners, not tenants. non disturbance clauses are common in leasehold agreements. The foreclosure may occur while a tenant is residing in the property, but the tenant cannot be disturbed until the lease expires. Unfortunately...
  19. randallg99

    Is this the new normal for commercial RE lending?

    REAL ESTATE 
    the article said the note matured. commercial loans typically have reset periods at which time (whether it's every 5 or 7 years or whatever) when rates are re-set. The bank has the option at that time to renew the loan or let it mature Banks can only call in loans for violations of the...
  20. randallg99

    What are a million, a billion and a trillion?

    HOT! 
    I really believe purchasing properties at a fraction of yesterday's prices is truly the road to significant wealth. While I've been extremely bearish on the markets for years (you can trace my posts dating back a couple of years) I never expected to pay year 1985-1990 prices! Properties sold...

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